Lennon and McCartney Announce Forming of Apple Corps

(Original Caption) Beatle business...Beatles John Lennon (left) and Paul McCartney face the press here, May 14th, and announce the establishment of an organization to serve as a catchall of the entertainment business. The British quartet has transformed its Beatles Ltd. into Apple Corps, Ltd., which has purchased, for $1.5 million an 18th century building on Savile Row to serve as headquarters for projects in films, electronics, recordings and merchandising. In their usual glib way, the two gave vague answers to newsmen's questions. "We don't know anything about business. We've hired people for that," was one example.